Like any substantial software implementation, there have been challenges along the way and things we have needed to work through. What I have appreciated is that when we have identified something that doesn't quite work for our business, we have generally been able to sit down with the Turnkey team, explain what we are trying to achieve and work towards a practical solution Review collected by and hosted on G2.com.

Our experience with Turnkey Lender goes back to the very early stages of building our company.

When we started, we had a fairly clear idea of the type of lender we wanted to build. We wanted the business to be digital from the outset, with as much of the application, credit assessment, loan management and servicing process automated as was reasonably possible. We also didn't want to spend years and a significant amount of capital building a lending management system from scratch. That was one of the main reasons we selected Turnkey.

Turnkey gave us a very good out-of-the-box lending platform that covered the core functionality we needed to get a lending business operational. For a start-up lender, that was important because there are already enough moving parts involved in launching a lending business without having to build every piece of the underlying technology yourself.

However, our experience with Turnkey has really been about what we have been able to build on top of that foundation.

We commenced building our lending platform in late 2023 with the core platform ready for testing within months. During 2024 we spent a considerable amount of time working through the configuration, testing the system and, importantly, developing our own lending and underwriting methodology. We then moved through a pilot and fine-tuning stage before commencing lending.

Our credit model was never intended to simply approve or decline an applicant based on a credit score. We wanted to make much greater use of the information available from a customer's bank transactions and current financial behaviour. This meant we needed the platform to accommodate quite detailed and, in some cases, bespoke lending criteria.

Over time, we have worked with the Turnkey team to develop a large number of decision rules, lending triggers, scorecards and automated processes. We have also developed specific reports and operational workflows around the way we manage our loan book. Bank statement analysis has been a particularly important part of that journey.

Through our integrations we analyse customer transaction data across a very large number of transaction types, parties and expenditure categories. We use that information to look at things such as income, expenses, existing credit commitments, gambling expenditure and other indicators of a customer's current financial position. We then use those data points within our lending criteria and automated decision rules.

Getting that level of detail working properly wasn't simply a matter of switching the system on. There was a lot of testing, changing rules, looking at outcomes and then going back and refining things. Turnkey has been helpful throughout that process.

As we started writing more loans and accumulating our own performance data, our requirements also changed. We have continued to adjust lending criteria, introduce new triggers and controls and develop additional reporting. The ability to make those changes without having to rebuild the underlying lending platform has been a major benefit for us.

The same applies outside underwriting. We use the platform across the lending lifecycle, from application and credit assessment through document execution, servicing, repayments and collections. A lot of processes that would otherwise require people manually moving information between systems can be automated or managed within the platform. The same is true with all transactions being sent to our accounting software.

Our relationship has become increasingly important as we have grown. We are no longer configuring a system for a business that hasn't started lending. We now have a live loan book and real customer and performance data, so changes to credit rules, reporting and workflows have practical consequences. Turnkey has remained responsive as our requirements have become more sophisticated.

Today, we have an end-to-end digital lending platform capable of processing applications quickly, applying our own credit rules and scorecards, incorporating bank transaction and credit risk data, executing documents electronically and managing loans through their lifecycle including payments and processing direct debits.

Turnkey provided the underlying technology that allowed us to get there without having to build a lending management platform from the ground up.

For me, that is probably the best way to describe our experience. Turnkey gives you a strong out-of-the-box product, but you are not necessarily limited to an out-of-the-box lending business. We have been able to take the core platform and progressively adapt it around Speedle's own credit philosophy, lending criteria and operational requirements build on it and make it your own.

After working with the platform from development, through pilot and now into day-to-day lending operations, we have been very happy with both the product and the support we have received from the Turnkey team. Review collected by and hosted on G2.com.